Sky Quarry Receives Permission to Operate Fractionation Facility at Eagle Springs Refinery Site, Advancing Waste-to-Energy Vision
Sky Quarry (NASDAQ: SKYQ) has received permission to operate a Fractionation Facility at the Eagle Springs Refinery in Nevada, marking a significant milestone in its strategic plan to expand the Foreland Refinery.
The operational permit from the U.S. Department of the Interior Bureau of Land Management covers a 40-acre right-of-way on public lands and extends through December 31, 2055. Part of Sky Quarry’s 2024 capital program, this facility aims to optimize production capacity in anticipation of higher output in 2025.
Once operational, the facility will enhance efficiency and ensure compliance with environmental standards. The company’s LTM revenue of $23 million reflects successful growth initiatives and comprehensive refurbishment of the Foreland Refinery. The new facility will help Sky Quarry capitalize on market opportunities created by the closure of the Phillips 66 refinery, which supplies 8% of California’s gasoline, in late 2025.
Strategically located, the Foreland Refinery will work with Sky Quarry’s PR Spring hydrocarbon extraction facility in Utah, projected to produce up to one million barrels of sustainable oil annually starting in 2025.
Sky Quarry (NASDAQ: SKYQ) ha ricevuto il permesso di operare un Impianto di Frazionamento presso la raffineria Eagle Springs in Nevada, segnando un importante traguardo nel suo piano strategico per espandere la Raffineria Foreland.
Il permesso operativo, rilasciato dal Bureau of Land Management del Dipartimento degli Interni degli Stati Uniti, copre un diritto di passaggio di 40 acri su terreni pubblici e si estende fino al 31 dicembre 2055. Parte del programma di capitali del 2024 di Sky Quarry, questo impianto mira a ottimizzare la capacità produttiva in previsione di un aumento della produzione nel 2025.
Una volta operativo, l'impianto migliorerà l'efficienza e assicurerà il rispetto degli standard ambiental. Il fatturato LTM di 23 milioni di dollari dell'azienda riflette iniziative di crescita di successo e un rifacimento completo della Raffineria Foreland. Il nuovo impianto aiuterà Sky Quarry a sfruttare le opportunità di mercato create dalla chiusura della raffineria Phillips 66, che fornisce l'8% della benzina della California, entro la fine del 2025.
Strategicamente posizionata, la Raffineria Foreland collaborerà con l'impianto di estrazione di idrocarburi PR Spring di Sky Quarry in Utah, previsto per produrre fino a un milione di barili di petrolio sostenibile all'anno a partire dal 2025.
Sky Quarry (NASDAQ: SKYQ) ha recibido permiso para operar una Instalación de Fraccionamiento en la refinería Eagle Springs en Nevada, marcando un hito significativo en su plan estratégico para expandir la Refinería Foreland.
El permiso operativo del Bureau of Land Management del Departamento del Interior de EE. UU. cubre un derecho de paso de 40 acres en tierras públicas y se extiende hasta el 31 de diciembre de 2055. Parte del programa de capital de 2024 de Sky Quarry, esta instalación tiene como objetivo optimizar la capacidad de producción en anticipación a un mayor rendimiento en 2025.
Una vez en operación, la instalación mejorará la eficiencia y garantizará el cumplimiento de los estándares ambientales. Los ingresos LTM de 23 millones de dólares de la empresa reflejan iniciativas de crecimiento exitosas y una renovación integral de la Refinería Foreland. La nueva instalación ayudará a Sky Quarry a capitalizar las oportunidades del mercado creadas por el cierre de la refinería Phillips 66, que suministra el 8% de la gasolina de California, a finales de 2025.
Ubicada estratégicamente, la Refinería Foreland trabajará con la instalación de extracción de hidrocarburos PR Spring de Sky Quarry en Utah, que se proyecta que producirá hasta un millón de barriles de petróleo sostenible al año a partir de 2025.
Sky Quarry (NASDAQ: SKYQ)는 네바다의 이글 스프링 정유소에서 분획 시설을 운영할 수 있는 허가를 받았으며, 이는 포어랜드 정유소 확장에 대한 전략적 계획의 중요한 이정표를 의미합니다.
미국 내무부의 토지 관리국에서 발급한 운영 허가는 공공 토지에서 40에이커의 통행권을 포함하며, 2055년 12월 31일까지 유효합니다. 스카이 쿼리의 2024년 자본 프로그램의 일부인 이 시설은 2025년의 높은 생산량을 대비하여 생산 능력을 최적화하는 것을 목표로 합니다.
운영을 시작하면 이 시설은 효율성을 향상시키고 환경 기준을 준수할 수 있도록 합니다. 회사의 LTM 수익 2,300만 달러는 성공적인 성장 이니셔티브와 포어랜드 정유소의 포괄적인 개조를 반영합니다. 이 새로운 시설은 스카이 쿼리가 2025년 말에 캘리포니아의 가솔린의 8%를 공급하는 필립스 66 정유소의 폐쇄로 인해 발생하는 시장 기회를 활용하는 데 도움이 될 것입니다.
전략적으로 위치한 포어랜드 정유소는 2025년부터 연간 최대 100만 배럴의 지속 가능한 원유를 생산할 것으로 예상되는 스카이 쿼리의 유타주 PR 스프링 탄화수소 추출 시설과 협력하게 됩니다.
Sky Quarry (NASDAQ: SKYQ) a reçu l'autorisation d'exploiter une Installation de Fractionnement à la raffinerie Eagle Springs dans le Nevada, marquant une étape importante dans son plan stratégique d'expansion de la Raffinerie Foreland.
Le permis opérationnel délivré par le Bureau of Land Management du Département de l'Intérieur des États-Unis couvre un droit de passage de 40 acres sur des terres publiques et s'étend jusqu'au 31 décembre 2055. Dans le cadre du programme de capital de 2024 de Sky Quarry, cette installation vise à optimiser la capacité de production en prévision d'une augmentation de la production en 2025.
Une fois opérationnelle, l'installation améliorera l'efficacité et garantira le respect des normes environnementales. Les revenus LTM de 23 millions de dollars de l'entreprise reflètent des initiatives de croissance réussies et une rénovation complète de la Raffinerie Foreland. La nouvelle installation aidera Sky Quarry à tirer parti des opportunités de marché créées par la fermeture de la raffinerie Phillips 66, qui fournit 8 % de l'essence de Californie, d'ici la fin 2025.
Située stratégiquement, la Raffinerie Foreland collaborera avec l'installation d'extraction d'hydrocarbures PR Spring de Sky Quarry dans l'Utah, qui devrait produire jusqu'à un million de barils de pétrole durable par an à partir de 2025.
Sky Quarry (NASDAQ: SKYQ) hat die Genehmigung zur Betriebsaufnahme einer Fraktionierungseinrichtung in der Raffinerie Eagle Springs in Nevada erhalten, was einen bedeutenden Meilenstein in seinem strategischen Plan zur Erweiterung der Raffinerie Foreland darstellt.
Die Betriebsbewilligung des U.S. Department of the Interior Bureau of Land Management umfasst einen 40 Acres großen Verkehrsweg auf öffentlichem Land und gilt bis zum 31. Dezember 2055. Teil des Kapitalprogramms 2024 von Sky Quarry, soll diese Anlage die Produktionskapazität optimieren in Erwartung einer höheren Auslastung im Jahr 2025.
Sobald die Anlage in Betrieb ist, wird sie die Effizienz steigern und die Einhaltung der Umweltstandards gewährleisten. Der LTM-Umsatz von 23 Millionen Dollar des Unternehmens spiegelt erfolgreiche Wachstumsinitiativen und eine umfassende Renovierung der Raffinerie Foreland wider. Die neue Anlage wird Sky Quarry helfen, von den Marktchancen zu profitieren, die durch die Schließung der Phillips 66-Raffinerie entstehen, die Ende 2025 8 % des Benzins Kaliforniens liefert.
Strategisch gelegen, wird die Raffinerie Foreland mit der Kohlenwasserstoff-Extraktionsanlage PR Spring von Sky Quarry in Utah zusammenarbeiten, die voraussichtlich ab 2025 bis zu eine Million Barrel nachhaltiges Öl pro Jahr produzieren wird.
- Received a 30-year operational permit for a Fractionation Facility at Eagle Springs Refinery.
- Expected increase in production capacity for 2025.
- LTM revenue of $23 million.
- Strategic positioning to capitalize on Phillips 66 refinery closure.
- Projected production of up to one million barrels of sustainable oil annually starting in 2025.
- Closure of Phillips 66 refinery, responsible for 8% of California's gasoline supply, could impact regional fuel demand dynamics.
Insights
This operational permit marks a strategic expansion in Sky Quarry's refining capabilities, particularly significant given the upcoming closure of Phillips 66's California refinery. The
The fractionation facility enhancement, combined with PR Spring's projected 1 million barrel annual sustainable oil production, represents a calculated move to capitalize on California's stringent regulatory environment. Nevada's more favorable regulatory landscape gives Sky Quarry a competitive advantage in serving the California market. This geographical arbitrage opportunity could substantially boost profit margins.
The integration of waste asphalt shingle recycling with traditional refining operations demonstrates an innovative approach to sustainable energy production. The PR Spring hydrocarbon extraction facility's connection to the Foreland Refinery creates a unique waste-to-energy ecosystem. This vertical integration strategy not only addresses waste management challenges but also produces valuable energy products.
The 40-acre right-of-way permit through 2055 provides long-term operational security for implementing advanced fractionation technologies. The facility's focus on environmental compliance while maintaining operational efficiency showcases a balanced approach to sustainable energy production. The expected 2025 production increase aligns with growing market demand for sustainably sourced energy products.
The regional market dynamics present a compelling opportunity. The Phillips 66 refinery closure creates a substantial supply vacuum in California's fuel market. Sky Quarry's Nevada location offers a strategic advantage - proximity to California markets without the burden of California's strict regulatory requirements. This positioning could lead to significant market share gains and improved profit margins.
The company's focus on sustainable oil production through waste recycling aligns with increasing ESG investment trends. With potential annual production of 1 million barrels of sustainable oil, Sky Quarry is well-positioned to serve both traditional energy markets and growing demand for sustainable alternatives. The
Achieves Operational Milestone in the Company’s Strategic Plan to Expand the Capabilities of its Foreland Refinery
WOODS CROSS, Utah, Jan. 08, 2025 (GLOBE NEWSWIRE) -- Sky Quarry Inc. (NASDAQ: SKYQ) ("Sky Quarry" or "the Company"), an integrated energy solutions company committed to revolutionizing the waste asphalt shingle recycling industry, today announced that it has received permission to operate and maintain a Fractionation Facility at the Eagle Springs Refinery in Nevada. This milestone is a key component of the Company’s strategic plan to expand the capabilities of its Foreland Refinery.
The operational permit from the U.S. Department of the Interior Bureau of Land Management is for a 40-acre right-of-way on public lands at the Eagle Springs Refinery in Railroad Valley, Nye County, Nevada. The term extends through December 31, 2055, a 30-year period from the effective date.
Securing this permit was part of Sky Quarry’s 2024 capital program, aimed at optimizing the Foreland Refinery’s production capacity in preparation for the significantly higher output expected in 2025. Once operational, the facility will be critical in improving operational efficiency and ensuring compliance with environmental and industry standards.
“We are excited about the progress we're making at the Foreland Refinery and are committed to increasing our production capacity in line with our sustainability goals,” said Marcus Laun, Founder and Director of Sky Quarry. “This fractionation facility and the associated upgrades will be key drivers in expanding our operations and supporting our waste-to-energy mission. We are dedicated to ensuring our facilities meet the highest environmental standards and are well-positioned for future growth.”
The Company’s last twelve months (LTM) revenue of
The Phillips 66 refinery is responsible for
The Foreland Refinery will operate with Sky Quarry’s PR Spring hydrocarbon extraction facility in neighboring Utah to refine sustainably produced oil. With PR Spring’s operations projected to commence in 2025, production is expected to reach up to one million barrels of sustainable oil annually.
About Sky Quarry Inc.
Sky Quarry Inc. (NASDAQ: SKYQ) and its subsidiaries are, collectively, an oil production, refining, and a development-stage environmental remediation company formed to deploy technologies to facilitate the recycling of waste asphalt shingles and remediation of oil-saturated sands and soils. Our waste-to-energy mission is to repurpose and upcycle millions of tons of asphalt shingle waste, diverting them from landfills. By doing so, we can contribute to improved waste management, promote resource efficiency, conserve natural resources, and reduce environmental impact. For more information, please visit skyquarry.com.
Forward-Looking Statements
This press release may include ''forward-looking statements.'' All statements pertaining to our future financial and/or operating results, future events, or future developments may constitute forward-looking statements. The statements may be identified by words such as “expect,” “look forward to,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “estimate,” “will,” “project,” or words of similar meaning. Such statements are based on the current expectations and certain assumptions of our management, of which many are beyond our control. These are subject to a number of risks, uncertainties, and factors, including but not limited to those described in our disclosures. Should one or more of these risks or uncertainties materialize or should underlying expectations not occur or assumptions prove incorrect, actual results, performance, or our achievements may (negatively or positively) vary materially from those described explicitly or implicitly in the relevant forward-looking statement. We neither intend, nor assume any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated. You are urged to carefully review and consider any cautionary statements and the Company’s other disclosures, including the statements made under the heading "Risk Factors" and elsewhere in the Company’s Form 1-A offering statement filed with the SEC. Forward-looking statements speak only as of the date of the document in which they are contained.
Investor Relations
Chris Tyson
Executive Vice President
MZ Group - MZ North America
949-491-8235
SKYQ@mzgroup.us
www.mzgroup.us
Corporate Contact
Jennifer Standley
Director of Investor Relations
Ir@skyquarry.com
Company Website
www.skyquarry.com
FAQ
What is the significance of Sky Quarry's new operational permit at Eagle Springs Refinery?
How long is the operational permit for Sky Quarry's Fractionation Facility valid?
What is Sky Quarry's expected production capacity increase for 2025?
How much revenue has Sky Quarry generated in the last twelve months?
What impact will the closure of the Phillips 66 refinery have on Sky Quarry?
When is Sky Quarry's PR Spring hydrocarbon extraction facility expected to commence operations?
How much sustainable oil is Sky Quarry expected to produce annually starting in 2025?
